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Though the approach to 17,730 exposed vulnerability on anticipated lines, upside prospects, remain alive as long as above 17,550 on a closing basis, Anand James - Chief Market Strategist at Geojit Financial Services, said.

The stock traded at a P/E multiple of 784.24, while the price-to-book value ratio stood at 251.5.

As of 30-Jun-2022, promoters held 74.99 per cent stake in the company, while FIIs held 8.59 per cent and domestic institutional investors had 6.33 per cent.

Ambuja Cements and ACC currently have a combined installed production capacity of 70 million tonne per annum. The two companies together have 23 cement plants, 14 grinding stations, 80 ready-mix concrete plants and over 50,000 channel partners across India.

A total of 8,917 shares changed hands on the counter till 10:56AM (IST).

Mahindra & Mahindra Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 156598.75 Crore) operating in Auto sect

The Relative Strength Index of the stock stood at 72.08 on Friday.

“Most infrastructure projects in China are in deep losses. It is not bad from an India perspective longer term because it puts pressures on commodities especially steel, metals, plastics, etc, which helps India in its inflation fight. Longer term, that trajectory is changed and directionally, India is much better positioned than China and this will play out over the next few years.”

The cumulative order value of these projects is pegged at Rs 153.16 crore, the company said in a regulatory filing. Out of the seven deals closed by Gensol, five are based on a full turn-key EPC (engineering procurement construction) model, while two are Balance of System (BoS) projects, it said.

The stock price started its up move from Rs 65 (March 2009). The stock made a high of Rs 1,486 in July 2021 accompanied by higher bottoms and top formations and traded above averages in its uptrend,[Bharat Gala, President - Technical Research, Ventura Securities, said.